Jack, I can’t tell you how many company meetings I have attended over the years. Company executives would ask for input from agents on how they can improve and for ideas to help them. Also answered numerous surveys online with specific questions to get input on new products and services. They apparently never got the message from Independent agents because they weren’t implemented. Agents are on the frontlines and deal with customers and are the smartest people in the room. Instead, they trust the modelers and Algorithm experts, screw everything up and post average or worse results and then wonder what happened.

If these companies are consistently posting the types of results you are suggesting, how do they stay in business? Whereas, I do agree some agents are awfully sharp, underwriters, loss control, claims, actuary – they all have a say in this game. It’s like a successful football team when all the parts click. Underwriting is the QB, producers are the playmakers (RB and WR), loss control does the blocking and tackling, claims is defense, actuary draws up the plays – it takes us all for this synergy to consistently win.

Lousy analogy using football. Fail. Where do the financial people; CPAs, EAs, etc., who control investments that offset underwriting losses, fit in? Might they be a kicker or punter? What about internal and external auditors?

Easy – they are selling overpriced beers and pretzels in the concession stands. Auditors – referees. And, it’s hilarious to think in today’s age, investments are offsetting underwriting losses. That hasn’t happened since the early 2000’s. If a company cannot generate an underwriting profit today, they won’t be a survivor.

February 8, 2019 at 7:36 am

PolarBeaRepealsays:

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You don’t understand how long tail lines writers compete in their market.

February 8, 2019 at 12:46 pm

Captain Planetsays:

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Write comp all day, man. P&C on agribusiness – we TOTALLY understand long tail, not to mention severity. It’s our world. Perhaps you are the one in need of a refresher, Yogi.

February 6, 2019 at 9:41 am

robsays:

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remember kids, if you ever find that you’re the smartest person in the room, you’re probably in the wrong room!